MaD Ventures Fellow Programme 2013 to Nurture More High Impact Entrepreneurs in Hong Kong

HONG KONG, Sept. 13, 2012 /PRNewswire/ -- Make a Difference ("MaD"), a not-for-profit NGO-public-private partnership, is pleased to announce the official launch of the Make a Difference Ventures Fellow Programme 2013 today. The 4-day programme, from 24 to 27 January 2013, aims to promote a new generation of innovative and high impact entrepreneurs as role models in the society; enhance the global connections and collaborations of local entrepreneurs; attract entrepreneurial talent to Hong Kong as well as to foster development of a more vigorous ecosystem for innovative and high impact entrepreneurs in Hong Kong (For more background information, please refer to Annex 1).

The Make a Difference Venture Fellows Programme provides a platform for entrepreneurs who are based in Asia, have established or are seeking business links with Asia to meet and showcase their ventures to potential investors and partners; identify growth opportunities for their ventures and learn how to scale form experts; build a global network relationships; get insights into the resources that they can tap in Hong Kong; and learn from inspiring change makers from around the world.

"We seek to celebrate 'for purpose', innovative and high impact entrepreneurs. We also hope to help these entrepreneurs scale new heights by connecting them with capital, networks and knowledge." said Rachel Chan, Convenor of the MaD Ventures Fellow Programme.

"We are interested not just in non-profit making social enterprises, but also for profit and for purpose ventures, from environment and energy, health care and wellness, education and life-long learning to technology that enhances productivity and connectivity. We also welcome participation from ventures that develop happy work force, deliver first rate customer service and manage a socially responsible supply chain," Rachel Chan added.

Innovation is also an important requirement of the programme, from technology, product, and service to business model, process customer experience and management innovation.

The entrants will be assessed having regard to the vision and capability of the management team, their impact, innovation, sustainability and scalability. Six finalists will be invited to pitch at the MaD Ventures Salon on 25 Jan. 2013, with their travel expenses fully sponsored if they are based outside Hong Kong. Other eligible fellows not based in Hong Kong can also get a 50% airfare subsidy.

The MaD Ventures Salon gives participants a chance to pitch their ventures to potential investors and partners and seeks to encourage the investing community in Hong Kong to invest in purposeful, sustainable and influential ventures and companies. Experts from the US and Singapore will share their perspectives on how to facilitate talent and capital flows in building a more vigorous entrepreneurship system in Asia, and in Hong Kong in particular. The Financial Secretary of the HKSAR Government will officiate at the Salon, which expects some 200 attendees, including angel investors, fund managers, family offices, foundations, wealth advisors, as well as executives and professionals in the business community.

A distinguished panel of judges, together with the Salon participants, will select three MaD Venture Stars,among the six finalists pitching at theMaD Ventures Salon. They include business leaders, successful entrepreneurs, investors, leading foundation and family office representatives. (See the judging panel members at Annex 2).

The three MaD Venture Stars will have a chance to be one of the inspiring presenters at the 2013 MaD Forum; receive a one-year customised mentorship; enjoy free business matching with partners or service providers in Hong Kong as well as free exhibition at a designated Hong Kong Trade Development Council fair. They may also be invited by leading universities in Hong Kong to do a case study on their ventures.

"In recent years, there are signs that the entrepreneurial scene in Hong Kong is regaining some vigor. There are start-up events almost every week. Universities are investing more resources into entrepreneurship courses. Several co-work spaces have also been established, including the Good Lab with Make a Difference as a founding partner. A new Hong Kong Business Angel Network was set up last year. The HKSAR Government is also reviewing what it can do to develop a more vigorous entrepreneurship ecosystem. The MaD Venture Fellow Programme will provide a timely impetus to propel the development of a new entrepreneurial era in Hong Kong!" Rachel Chan concluded.

The MaD Venture Fellows Programme and MaD Ventures Salon are sponsored by CreateHK and Innovation and Technology Commission of the HKSAR Government. Strategic partners include Cyberport, Information Services Department, InvestHK, Hong Kong Trade Development Council and Hong Kong Science and Technology Park.

Interested parties should apply online on or before 28 Oct. 2012 via www.MaD.asia.

About Make a Difference

Make a Difference (www.MaD.asia) is a Hong Kong-based initiative launched in 2010 to inspire and empower a new generation of leaders in Asia. Targeting young people aged 16-35, MaD comprises an annual forum in January with 1,200 participants and inspiring change makers from different arenas around the world, and activities throughout the year in and outside Hong Kong to promote creativity, innovation and entrepreneurship.

MaD is a not-for-profit NGO-public-private partnership, organised by Hong Kong Institute of Contemporary Culture and co-created by InnoFoco. The Commerce and Economic Development Bureau of the HKSAR Government (CreateHK Office) is the patron and founding sponsor. 

Annex 1

The Case to Promote More Innovative and High Impact Entrepreneurs

• Entrepreneurship is a key economic growth engine. The current success of Hong Kong is laid down by a generation of entrepreneurs in the 1960s and 1970s. But the entrepreneurial spirit in this city seems to have lost its luster in the last two decades.
• According to the International Total Entrepreneurship Activitiy (TEA) Index, Hong Kong has an entrepreneurship index of (4.7%), compared to 5.7% in Taiwan and Singapore, 10.3% in the US and 14.8% in China. In addition, the majority of the entrepreneurial activities in Hong Kong have very limited innovation or innovative technologies, with two in every three entrepreneurial pursuits related to export/import and consumer oriented businesses.
• Entrepreneurship is not a preferred career path and successful young role models are few and far in between. Venture capital is virtually non-existent in Hong Kong, partly because of the small scale and the lack of innovation of local start-ups. Angel investing is also at its infant stage.
• Entrepreneurship is a key driver of innovation. It plays a very important role in diversifying and creating higher value for Hong Kong's economy. Hong Kong needs new industry players building new and innovative businesses.
• Hong Kong also needs to nurture more 'for purpose' enterprises that can bring about economic, social and/or environmental benefits in addition to financial returns. Capitalism in its extreme form has been under attacks on all fronts in recent years. Maximising shareholder value has proven to be an unsustainable business model. Companies that perform best over time are purpose-led organisations that seek to build sustainable businesses in the interests of all stakeholders. These companies make money but profit is not their raison d'etre, but they seek to address the problems of our world, such as environment, health care/wellness and education. These are the growth engines in the 21st century, so are technologies that can enhance productivity and connectivity.

Annex 2

Judges of the MaD Venture Fellows Programme 2013

• Bernard Chan, President, Asia Financial Holdings and Asia Insurance Co.
• Johnny Chan, President, Hong Kong Venture Capital and Private Equity Association
• Wilton Chau, Vice Chairman, Hong Kong Business Angel Network
• Daniel Cheng, Managing Director, Dunwell Group
• David Harilela, Chief Executive, David Harilela Group
• Victor Hwang, Managing Director, T2 Venture Capital (US) and author of "The Rainforest: The Secret to Building the Next Silicon Valley"
• Bonny Landers, Chief Executive, RS Group
• Scott Lawson, Chief Executive, Sow Asia
• Winnie Ng, Vice Chairman and Director of Friends of Bauhinia
• Yat Siu, Founder and CEO of Outblaze
• Prof. Wong Poh Kam, Director, NUS Centre for Entrepreneurship, Singapore

For enquiry about the MaD Venture Fellows Programme, please contact Rachel Chan of InnoFoco, the Convenor of the Programme at venture@mad.asia or +852-2560-5226.